GLOBALSTAR - The New Beginning - GSTRF / GSTRQ Message Board

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Technology Stocks : GLOBALSTAR - The New Beginning - GSTRF / GSTRQ

GSAT 54.41

+7.1%

Oct 31 9:30 AM EDT

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To: pcstel who started this subject	11/14/2001 4:01:27 PM
From: pcstel	Read Replies (5) of 65

Well, Here is my WAG on how this whole thing gets reorged. At least where the new money is coming from.... Qualcomm's/Velocomm's investment in Vesper is the key IMO. biz.yahoo.com Designed to infuse capital sufficient to meet Vesper's future funding needs and significantly de-leverage the company, the restructuring eliminates over US$1 billion in debt and includes an additional cash commitment of $346 million from the shareholders. QUALCOMM and VeloCom are contributing $266 million and $80 million in new equity respectively. Vesper now has "limited mobility services", which Qualcomm is going to use up KYO "Thin Phone" inventory on. NT and LU have "forgiven" 1 Billion in Vesper Debt. (Qualcomm is gonna eat some of that in one form or another).. Deferment of royalty payments on equipment,etc. Vesper has 346 million in cash commitments with debt obligations of approx. 250million due in 2005 and later.. My guess, Vesper buys Loral's Brasillian Gateways and Service Provider Operations. Vesper takes new equity investment in new Globasltar. for controlling interest Vesper (Qualcomm) orders new 1900Mhz/Globalstar phone from Qualcomm (maybe another VF deal form Qualcomm). QWS revenues get wound up again. Debt holders get a Debt for Equity Swap.. Vesper (aka Qualcomm) makes investment into new Globalstar. Loral retains their Service Provider to Govt's. If inflight security hits a "homer" Loral strikes it big with the Contract. Future Satellite Orders, and equity ownership in New Globlastar via their debt instruments. This way Qualcomm takes control of Globalstar without doing so directly.. PCSTEL

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